Enterprise Group PLC has announced it is on course to achieve its five year (2019-2024) strategy, key aspects of which include the expansion into the West African market and the identification of a strategic partner for its health insurance business.
This was revealed when the Group took its turn at the ‘Facts Behind the Figures’, organized by the Ghana Stock Exchange (GSE).
Group CEO, Keli Gadzekpo said, “This year we have been able to realize the remaining two of the key objectives of our 2018 rights issue, as spelt out in our 5 year strategic plan.
We have expanded into Nigeria as part of our growth plans for the sub-region, and have concluded the acquisition of Acacia Health Insurance so we can bring our advantage to Ghanaians through unparalleled health insurance services”.
Despite a tough operating environment impacted by the COVID-19 pandemic, Enterprise Group’s shares have remained relatively stable with some gains. The Group began the year with a share price of GHS1.40 and has since gained 79.3%, ranking it sixth on the GSE in terms of year-to-date performance.
The COVID-19 pandemic also accelerated the adoption and use of innovation to minimize the impact on day to day operations. Having invested significantly in technology, the business seamlessly rolled out its agile working system, enabling staff to work remotely, to ensure business continuity.
The Group has 20% share of the Ghanaian insurance market (Non-life and Life), 24% of Pensions Assets Under Management, while Transitions remains a formidable operator in the funeral services industry.